• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 6 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Seaport: Sands China eying dividend resumption in 2025

Ben Blaschke by Ben Blaschke
Mon 26 Aug 2024 at 05:52
Dr Wilfred Wong

The Londoner Macao

27
SHARES
685
VIEWS
Print Friendly, PDF & Email

Macau concessionaire Sands China will most likely resume the payment of dividends in 2025 – a year earlier than many analysts had anticipated – although the scale of such dividends will be dependent on the company’s performance upon completion of The Londoner Macao revamp.

The update was provided by executives of parent company Las Vegas Sands (LVS) at the 2024 Seaport Annual Summer Conference, which saw Seaport Research Partners host LVS and other gaming companies for the benefit of investors.

According to Seaport’s Senior Analyst Vitaly Umansky in an ensuing note, dividends remain high on the company’s priority list, stating, “Hong Kong investors like dividends, so [it] makes sense to restart some dividends at Sands China.”

Sand China is one of three Macau companies yet to resume the payment of dividends post-COVID, alongside Melco Resorts and SJM Resorts – largely because of the company’s significant investment into The Londoner Macao. The Phase 2 revamp has seen both the Sheraton and the old Pacifica casino floor closed for renovations since early in 2Q24 which Sands China previously said materially impacted its Q2 results.

In providing its latest update to investors, LVS said Macau’s Q3 results should be largely in-line with Q2 due to a full quarter of disruption at The Londoner, albeit offset by what it expects to be stronger summer business.

“The Londoner will have 2,500 rooms offline for redevelopment in Q3 compared to ~1,200 in Q2, but the quarter-on-quarter impact on revenues should not be as severe as room reduction implies,” Umansky wrote.

The company expects to reopen the old Pacifica Casino as well as the Sheraton – to be renamed Londoner Grand – by December.

Separately, Sands China told investors during the 2024 Seaport Annual Summer Conference that player reinvestment – a hot topic in Macau in recent months as market competitiveness heats up post-COVID – had been “too high” in Q2 and more specifically that such costs had negated the benefit, according to Umansky.

“Reinvestment is coming down in Q3 (in fact it started coming down in late Q2 compared to earlier in the quarter), and should see further reduction in Q4 – all based on reinvestment as a percentage of mass,” he wrote, adding that base mass revenues continue to disappoint even while premium mass soars.

Sands China is “seeing both lower visitation and lower spend per customer in this segment,” the Seaport analyst explained. “Softness is attributable to China’s economy and constraints on customer income and wealth (middle-class of China). Until the China economy and consumer confidence improves, base mass is not likely to see a stronger recovery.”

Conversely, “The crackdown on the illicit Macau money exchange rings is not having any material impact on revenues. Not many players rely on such liquidity, and alternatives exist.”

RelatedPosts

IAG receives 276 public nominations for 2025 IAG Academy IR Awards, Official Nominees to be announced Monday

IAG receives 276 public nominations for 2025 IAG Academy IR Awards, Official Nominees to be announced Monday

Wed 6 Aug 2025 at 13:43
MGTO to launch 10-day market in Macau’s NAPE to help area transform ahead of pending satellite casino closures

MGTO to launch 10-day market in Macau’s NAPE to help area transform ahead of pending satellite casino closures

Tue 5 Aug 2025 at 14:59
Delta Corp to acquire 45% stake in shipyard that built “Casino Royale” floating casino

Gaming sector shows strength as India’s Delta Corp reports income of US$22 million in June 2025 quarter

Tue 5 Aug 2025 at 05:58
Experts claim 90% of Macau money exchange gangs eradicated since passing of illegal gaming law

Morgan Stanley says Macau now a growth market, raising 2025 GGR and EBITDA forecasts after two consecutive monthly beats

Mon 4 Aug 2025 at 11:48
Load More
Tags: DividendsGamingMacauSands ChinaSeaport Research PartnersSheratonThe Londoner MacaoVitaly Umansky
Share11Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

AUSTRAC CEO Brendan Thomas named speaker for Sydney’s Regulating the Game 2025

OPINION: Entain’s repositioning and the compliance reckoning Australia’s clubs can’t ignore

by Paul Newson
Wed 6 Aug 2025 at 15:03

Newly appointed Entain Australia interim CEO Andrew Vouris is wasting no time making a statement. “I want us to win, yes, but not at all costs,” he said recently. It’s a line that marks a conscious shift in tone and...

IAG receives 276 public nominations for 2025 IAG Academy IR Awards, Official Nominees to be announced Monday

IAG receives 276 public nominations for 2025 IAG Academy IR Awards, Official Nominees to be announced Monday

by Newsdesk
Wed 6 Aug 2025 at 13:43

The public nominations period for the 2025 IAG Academy Awards has closed and the countdown is now on until next Monday, 11 August, when Inside Asian Gaming will announce the Official Nominees. This year’s IAG Academy IR Awards comprise 23 award categories, one...

Game changer: WPT’s Adam Pliska

Tournament poker now legal in Thailand as Acting PM overturns long-standing ban

by Ben Blaschke
Wed 6 Aug 2025 at 05:52

Tournament poker is now officially legal in Thailand after the government on Monday overturned a long-standing ban on the activity. According to The Bangkok Post, Acting Prime Minister Phumtham Wechayachai signed an order legalizing poker games for money under controlled...

10 Years Ago: The Star war

NSW casinos given two-year reprieve on plan to lower daily cash limit to AU$1,000

by Ben Blaschke
Wed 6 Aug 2025 at 05:21

The NSW state government has postponed by two years a plan to lower the daily cash limit for casino customers from AU$5,000 (US$3,235) to AU$1,000 (US$647) by two years. The new limit – representing the amount of raw cash each...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English